Topgolf Callaway Brands Corp

Topgolf Callaway Brands Corp. engages in the manufacture and distribution of golf equipment and accessories. It operates through the Golf Equipment and Apparel, Gear, and Other segments. The Golf Equipment segment focuses on the design, manufacture, and sale of a full line of golf equipment. The Apparel, Gear, and Other segment refers to the development and sale of soft goods under the Callaway, TravisMathew, OGIO, and Jack Wolfskin brands. The company was founded by Ely Reeves Callaway, Jr. in 1982 and is headquartered in Carlsbad, CA.

Earnings data Q4 2020

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Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Topgolf Callaway Brands reports record 2022 performance and eyes growth

Topgolf Callaway Brands Corp reported strong financial performance in 2022, driven by record revenue and adjusted EBITDA growth across its segments.
Despite challenges like extreme weather impact and elevated inventory levels, the company is poised for growth with strategic initiatives, product innovation, and market expansion plans.
Opportunities lie in new venue openings, digital enhancements, and market outperformance, positioning Topgolf for continued success and profitability in 2023 and beyond.
With a positive outlook for revenue and adjusted EBITDA growth, Topgolf Callaway Brands is well-positioned to capitalize on market opportunities and drive performance in the upcoming year.

Topgolf MODG reports robust Q1 earnings, eyes $800M EBITDA by 2025

Topgolf Callaway Brands Corp (MODG) reported strong Q1 performance with revenue and adjusted EBITDA growth, driven by venue success and product launches.
While facing challenges from the banking crisis and event dynamics, the company is optimistic about consumer demand and operational enhancements.
With a focus on digital initiatives, improved economics, and market expansion, Topgolf is poised for continued growth and financial strength.

Topgolf Callaway Brands reports solid Q2 performance and growth opportunities

Topgolf Callaway Brands delivered a strong Q2 performance with revenue and margin improvements. Despite challenges in the Golf Equipment segment, opportunities lie in expansion plans and strategic financial management.

Topgolf reports strong Q3 performance amidst market challenges

Topgolf's Q3 showed operational strength and cost-saving initiatives.
Challenges include lower same venue sales and market concerns on EBITDA.
Strengths lie in margin improvements, brand leadership, and growth prospects.
Opportunities in venue expansion, franchising, and long-term strategic focus.

Topgolf Callaway Brands Corp (MODG) reports positive earnings, eyes long-term growth

Topgolf Callaway Brands Corp (MODG) delivered positive financial results for Q4 and full year 2023, with expectations of significant growth in EBITDA, cash flow, and EPS from 2025 to 2028.
Despite challenges in Q1 2024, the company remains confident in its long-term earnings power, supported by strong performance across its Golf Equipment, Active Lifestyle, and Topgolf segments.
Strategic investments in digital transformation, new product launches, and synergies between golf segments position the company for continued growth and brand strength in the evolving consumer landscape.

Topgolf Callaway Brands Corp reports strong Q1 performance and challenges

Topgolf Callaway Brands Corp (MODG) had a strong start in Q1 2024, with revenue meeting expectations, strong EBITDA, and successful product launches driving market share gains.
Challenges in the Active Lifestyle segment and currency headwinds led to a lowered full-year revenue expectation, but confidence in future sales improvement remains.
Efficient inventory management, improved operating margins, and strategic initiatives position the company well for future growth and profitability.
Capital allocation strategy focusing on debt repayment, share repurchase, and reinvestment underscores a sound financial approach amid market challenges.

Topgolf Callaway Brands Corp reports mixed Q2 results, eyes spin-off

Topgolf Callaway Brands Corp faced challenges with lower same-venue sales impacting revenue, but strong cost management led to exceeding EBITDA expectations.
The company is actively pursuing initiatives to improve sales, while a strategic review may lead to value creation through a potential spin-off.
Despite revenue outlook adjustments, the company demonstrated financial strength with increased liquidity and effective inventory management.

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Shares of Topgolf Callaway hit their lowest level since late 2020 on Monday, and one key insider was taking advantage of the new low to add to her stake. The board repurchased 1 million shares last week.

Is It Time to Buy Topgolf Callaway Stock Again?

Investors are down on Topgolf Callaway after the company guided for a slowdown at its Topgolf segment. Management expects the business to reach positive free cash flow by the end of the year.

Why Have Investors Soured on Topgolf Callaway Stock?

Topgolf is still one of the best names in entertainment.

This Entertainment Stock Is Still Growing Like Crazy

CARLSBAD, Calif. , May 15, 2023 /PRNewswire/ -- Topgolf Callaway Brands Corp. (NYSE: MODG) (the "Company") announced today that it will be attending Jefferies' Virtual Outdoor Summit on May 16, 2023.

TOPGOLF CALLAWAY BRANDS TO ATTEND JEFFERIES VIRTUAL OUTDOOR SUMMIT

Revenue continues to grow as Topgolf expands, and 11 new locations will be finished this year. A reduction in corporate spending may put pressure on results late in the year, and that's what investors were worried about this week.

Why Topgolf Callaway Stock Plunged 24% This Week

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Upstart stock surges after an upbeat outlook and progress on funding, Topgolf offers disappointing guidance, and RingCentral delivers an earnings beat.

These Stocks Are Moving the Most Today: Upstart, Topgolf, RingCentral, Icahn Enterprises, Twilio, and More

Topgofl Callaway posted solid growth in the first quarter, but profits are expected to fall this year. Growth in the Topgolf business is still on track.

Why Topgolf Callaway Stock Was Taking a Dive Today

Topgolf Callaway Brands (MODG) came out with quarterly earnings of $0.17 per share, beating the Zacks Consensus Estimate of $0.15 per share. This compares to earnings of $0.36 per share a year ago.

Topgolf Callaway Brands (MODG) Q1 Earnings and Revenues Surpass Estimates

Shares of Topgolf Callaway Brands Corp. MODG dropped nearly 10% in the aftermarket Tuesday after the maker of golf equipment and apparel topped Wall Street expectations for tis first quarter and posted revenue also above forecasts, but dialed down on adjusted EPS for the year. Topgolf earned $25 million, or 13 cents a share, in the quarter, compared with $87 million, or 44 cents a share, in the year-ago period.

Topgolf Callaway stock falls nearly 10% after company cuts profit forecast for the year

HIGHLIGHTS Q1 2023 revenue and Adjusted EBITDA exceeded expectations Topgolf delivered same venue sales growth of 11% compared to Q1 2022, marking six consecutive quarters of reported same venue sales growth Topgolf venue profitability and return metrics are improving versus the Company's previously disclosed long-term targets Completed debt refinancing, resulting in lower cost of debt, extended debt maturities, improved liquidity and a more unified and simplified financial structure Company remains on track to be free cash flow positive by end of year and increases midpoint of full year 2023 revenue and Adjusted EBITDA guidance CARLSBAD, Calif. , May 9, 2023 /PRNewswire/ -- Topgolf Callaway Brands Corp. (the "Company" or "Topgolf Callaway Brands") (NYSE: MODG) announced its financial results for the first quarter ended March 31, 2023.

TOPGOLF CALLAWAY BRANDS ANNOUNCES FIRST QUARTER 2023 RESULTS

Topgolf Callaway (MODG) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Analysts Estimate Topgolf Callaway Brands (MODG) to Report a Decline in Earnings: What to Look Out for

CARLSBAD, Calif. , May 1, 2023 /PRNewswire/ -- Topgolf Callaway Brands Corp. (the "Company" or "Topgolf Callaway Brands") (NYSE: MODG) announced today that it intends to release its first quarter 2023 financial results on Tuesday, May 9, 2023, after the market closes.

Topgolf Callaway Brands to Release First Quarter 2023 Financial Results

Beginning in 2024, Special Olympics athletes can compete in Topgolf as an individual or as an officially sanctioned team DALLAS , April 19, 2023 /PRNewswire/ -- Topgolf is beyond excited to share that beginning in 2024, Topgolf will be an officially sanctioned event with Special Olympics, the first time a brand has become a medaled event. That means Special Olympics athletes will be able to compete in Topgolf as an individual or with a team through Special Olympics Unified Sports®, which joins people with and without intellectual disabilities on the same team for training and competition.

Topgolf to Become Global Medaled Event in Special Olympics

CARLSBAD, Calif., April 10, 2023 /PRNewswire/ -- Jon Rahm showcased a complete shift in performance at Augusta National, as he captured his 2nd career major championship victory on Sunday at The Masters. Rahm trusted Callaway golf equipment and an Odyssey Putter throughout the week, carded an impressive final round 69, and will now move to #1 in the world golf rankings with his win.

Jon Rahm Wins His 2nd Major Championship at The Masters with Callaway Clubs and Golf Ball

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CARLSBAD, Calif. , March 16, 2023 /PRNewswire/ -- Topgolf Callaway Brands Corp. (NYSE: MODG) ("Topgolf Callaway Brands" or the "Company") today announced the completion of a series of related transactions in support of a comprehensive plan to refinance its capital structure.

TOPGOLF CALLAWAY BRANDS SUCCESSFULLY COMPLETES DEBT REFINANCING

CARLSBAD, Calif. , March 1, 2023 /PRNewswire/ -- Topgolf Callaway Brands Corp. (NYSE: MODG) (the "Company") announced today that it will be attending Raymond James' Institutional Investors Conference on March 6, 2023, in Orlando, Florida.

TOPGOLF CALLAWAY BRANDS TO ATTEND RAYMOND JAMES INSTITUTIONAL INVESTORS CONFERENCE

We initiated coverage of Topgolf Callaway in October with a "BUY" rating and the stock has returned 20% since then. The recent rally has confirmed our short-term expectations, but the risk-reward proposition is now less favorable.

Topgolf Callaway: Taking Profit (Rating Downgrade)

Topgolf Callaway Brands continues to grow nicely on both its top and bottom lines. That trend is set to continue and the market has responded positively to this.

Topgolf Callaway Brands: Still A Great Play, But Not As Great

Topgolf Callaway Brands Corp. (NYSE:MODG ) Q4 2022 Earnings Conference Call February 9, 2023 5:00 PM ET Company Participants Lauren Scott - Director of Investor Relations Chip Brewer - President and Chief Executive Officer Brian Lynch - Chief Financial Officer Patrick Burke - Senior Vice President of Global Finance Conference Call Participants Randal Konik - Jefferies Alex Perry - Bank of America Merrill Lynch Daniel Imbro - Stephens Inc. Joseph Altobello - Raymond James Michael Swartz - Truist Securities Casey Alexander - Compass Point Research & Trading, LLC Eric Wold - B. Riley Securities George Kelly - ROTH MKM Operator Good day, and welcome to the Topgolf Callaway Brands Fourth Quarter and Full-Year 2022 Earnings Conference Call.

Topgolf Callaway Brands Corp. (MODG) Q4 2022 Earnings Call Transcript

Shares of Topgolf Callaway Brands Corp. rose after hours on Thursday after the golf giant nudged its full-year sales and adjusted profit forecasts higher — as the popularity of its Topgolf entertainment facilities helps counterbalance easing demand for golf equipment.

Topgolf Callaway says people haven't given up on golf yet — at least off the course

Record Revenue Reflects Continued Strength Across All Operating Segments Raises Full Year 2023 Revenue and Adjusted EBITDA Outlook Fourth Quarter and Full Year 2022 Highlights Q4 net revenue increased 19.6% compared to 2021 Q4 seasonal operating loss improved 36.6% compared to 2021, or 42.4% on a non-GAAP basis Topgolf opened 11 new owned and operated venues in 2022, including 6 in Q4, and delivered same venue sales growth of 7% and 11% for the full year and Q4, respectively, compared to 2019 Full year net revenue increased 27.5% compared to 2021 Full year 2022 net income of approximately $158 million on both a GAAP and non-GAAP basis. In 2021, due to a $252.5 million non-cash gain related to the Topgolf merger, GAAP net income was $322.0 million while non-GAAP net income was $137.9 million.

TOPGOLF CALLAWAY BRANDS ANNOUNCES FOURTH QUARTER AND FULL YEAR 2022 RESULTS

CARLSBAD, Calif. , Feb. 1, 2023 /PRNewswire/ -- Topgolf Callaway Brands Corp. (the "Company" or "Topgolf Callaway Brands") (NYSE: MODG) announced today that it intends to release its fourth quarter and full year 2022 financial results on Thursday, February 9, 2023, after the market closes.

Topgolf Callaway Brands to Release Fourth Quarter & Full Year 2022 Financial Results

If Topgolf venues keep churning out revenue at these levels, the company could eventually become a cash cow.

News for Topgolf Callaway Brands Corp Stock (MODG)